Devon Energy Corp. (NYSE:DVN) was upgraded by equities research analysts at Ned Davis Research from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday, Analyst Ratings Network.com reports.
A number of other analysts have also recently weighed in on DVN. Analysts at Global Hunter Securities initiated coverage on shares of Devon Energy Corp. in a research note to investors on Friday. They set a “neutral” rating and a $72.00 price target on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Devon Energy Corp. from $72.00 to $75.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Seventeen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.06.
Shares of Devon Energy Corp. (NYSE:DVN) traded up 0.98% on Monday, hitting $60.70. The stock had a trading volume of 1,646,707 shares. Devon Energy Corp. has a one year low of $50.81 and a one year high of $66.92. The stock’s 50-day moving average is $61.30 and its 200-day moving average is $57.79. The company’s market cap is $24.644 billion.
Devon Energy Corp. (NYSE:DVN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.09. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $0.88 earnings per share. Devon Energy Corp.’s revenue was up 45.8% compared to the same quarter last year. Analysts expect that Devon Energy Corp. will post $4.26 EPS for the current fiscal year.
Devon Energy Corporation is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NYSE:DVN).
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